Bihar Sponge Iron Ltd — Important, 14-08-2026: Company Update

Bihar Sponge Iron's Board has approved the financial results for the quarter ending June 30. The company reported no operational revenue during the quarter as its plant is undergoing revamping and major maintenance under a new agreement with Amalgam Steel & Power Limited. Despite this, a profit of 2.43 Cr was recorded, significantly boosted by 6.11 Cr from written-back liabilities and assets. Auditors expressed a qualified opinion due to unprovided penalties of 2.15 Cr from SECL, undisclosed promoter loan settlement amounts, and substantial unprovided interest on government soft loans. The Board also re-appointed cost and internal auditors.